The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-20
DUN s. CO.'S BUSINESS REVIEW.
While There Is Nothing Very Encouraging,
There Ia No Gauge for Depression.

While There Is Nothing Very Encouraging,
There Is No Cause for Depression.
NEW YORK, Aug 19.-R. G. Dun & Co..
weekly trade review has the following points:
Everything now turns on crop prospects. Con-
siderable injury is no longer disputed; indeed,
it's effects already felt in diminishing de-
mand from regions most affected by the drought,
for some manufactured products But estimates
of the extent of harm done differ widely. Chi
cago and Detroit advices indicate that rains
were too late to save considerable portion of
the corn crop, but after declining lie on
the growing impression that the injury
would not prove so extensive as TO
balance the increase in acreage. the price rose
much on reports of injury by frost on Thurs
day. Latest government reports point to
probable yield slightly less than that of last
Wheat rose half a cent on Wednesday, but lost
the advance. Injury to this crop does not appear
important, and official figures point to a yield
exceeding 430, 600, 600 bushels, which, with
stocks carried over. would meet all probable re-
quirements.
The cotton speculation has resulted in a fur
Their decline, and while New Orleans reports as
to the yield are less favorable. Atlanta and Gal
weston report Improvements from recent rains
The injury to rice from drought and freshets is
estimated in Savannah at 100000 to 100000
bushels. What may prove the most serious ef-
feet of the long drought, the injury to
pastures and the hay crop, and CONSEQUENT losses
in dairy and animal products. is often over
looked. The movement of grain from the North
west is remarkably large, though lake trans
porters get the lions share of It, Buffalo July re-
cepts by lake have never been exceeded but
once, while the latest report of east bound rail
shipments from Chicago is the smallest for many
years.
While the railroads contin ue to report large
earnings, 108 roads showing net gain of ~
per cent. for July over last year the weakness
in securities operates to prevent sales for extern
sons and roads, and thus affects the
demand for rails and iron AT Philadelphia
rails seem weaker, and a sale of 5000
tons to a Southern road at a price equi valent to
S37 at mill ia noted Makers disposed to
meet foreign competition, though renewal of
the compact to regulate production promises to
prevent undue depression. Pig-iron is also
shaded, and it is admitted that the supply seems
to exceed the demand.
The monetary situation has one unfavorable
and several favorable features. Strngency in
at several interior points, and reports of
unsatisfactory or "only fair" collections grow
more numerous. But the purchase of bonds by
Europe, and the sale of securities abroad bytMr.
Gould and by some German houses here, appear
TO avert pressure in this market for the present
Exports in July were more satisfactory, and for
the past three weeks have bsen slightly ! areer
than for the same weeks of last year, and while
the reports of gold on the way from Europe are
probably exaggerated, for effect, the outward
movement OF securities undoubtedly con-
tinues. The possibility of important failures
resulting from recent daring speculations and
the chance of large demands for money from
the West and South, are not to be safely over
looked
The business failures occurring throughout
the United States and Canada during the last
seven days number, for the United States, 135,
and for Canada, &c.